Real Estate News & Tips for Central Texas
Mortgage Rates Didn't Move Much Over The Weekend
The average top tier conventional 30yr fixed rate was just a hair over 7% on Friday afternoon and the same is true at the start of the new week. Rates are based on bonds, but while bonds move constantly throughout the day, mortgage lenders only adjust rates once per day unless there's excessiv
Mortgage Rates End Higher, But Not As High as This Morning
This afternoon's mortgage rates are higher than yesterday's latest levels. That's a result of bond market weakness seen late yesterday and earlier this morning. Why would yesterday's market movement matter? Simply put, it was too late in the day for many lenders to go to the troubl
Mortgage Rates Roughly Unchanged Yet Again Despite Bond Market Losses
Losses... weakness... selling pressure... When any of these things happen in the bond market, it puts upward pressure on interest rates. Mortgage rates are primarily determined by bonds, after all. Today started out well enough for the bond market. This allowed mortgage
Mortgage Rates Roughly Unchanged Today
While there's been plenty of movement in the average mortgage rate on any given day recently, today was not one of them. 30yr fixed rates remained above 7%, but technically fell 0.01% (an amount so small that it may as well be considered an absence of change). Despite the flat day-
Mortgage Rates Jump Back Above 7%
Last Thursday and Friday offered some hope that the persistent move to higher rates was finally leveling off. It wasn't necessarily a rational hope, but if nothing else, it was "nice" to see the average 30yr fixed move back below 7%. Even then, we cautioned against viewing the recovery a
Mortgage Rates Lower Again As Lenders Catch Up With Bonds
The bond market dictates day to day movement for all manner of interest rates, including mortgages. On election night, bond yields (another word for "rates") spiked as soon as traders felt the results were evident. The following morning, mortgage-backed bonds started out much weaker and
Tricky Day... Mortgage Rates Fall Significantly, But Not Because of The Fed
There's a distinct risk that, even in the financial community, that people will look back on today's drop in interest rates and conclude it must have something to do with the Federal Reserve's latest policy announcement. After all the Fed did cut its policy rate by 0.25% today, and the Fed was
Please Forget Everything You Think You Know About Fed Rate Cuts
Mortgage rates spent the entire month of October moving higher at a fairly quick pace. Some of that had to do with stronger economic data, but at least as much had to do with the bond market adjusting to election probabilities. As we've been advising in recent weeks, the consensus was th
Mortgage Rates Start Higher, But Fall in Afternoon
More often than not, mortgage lenders only set rates once a day. Their decisions are based on trading levels in the underlying bond market. Even though bonds are constantly moving, it doesn't make sense for lenders to make a change unless a certain threshold of market movement is surpassed.&nb